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ShopperTrak Report: Year-over-year retail sales up 0.2% for week ending Oct. 2

BY CSA STAFF

Chicago A report released Thursday by ShopperTrak found that year-over-year GAFO (general merchandise, apparel, furniture, sporting goods, electronics, hobby, books and other related store sales) retail sales edged up 0.2% for the week ending Oct. 2, while sales jumped 2.3% versus the previous week ending Sept. 25.

According to ShopperTrak’s National Retail Sales Estimate, on a yearly level sales slightly increased compared with last year and despite the slightly higher week-over-week rise, retail performance continued at the expected seasonal low pace between Labor Day and Columbus Day.  

Weather also influenced consumer spending patterns last week as relatively warm weather in most of the country, combined with storms throughout the East Coast seemed to slow sales of seasonal fall merchandise.  

ShopperTrak reported GAFO retail sales have increased 34 weeks out of 39 weeks so far this year compared with 2009. 

“Retailers continued to experience slower sales levels last week as Columbus Day approaches but this should begin turning around this week as Columbus Day sales and promotions begin and cooler weather drives fall apparel and merchandise sales,” said Bill Martin, founder of ShopperTrak. “We then will most likely see some stagnant spending until Halloween provides a fairly slight increase followed by another slow period leading up to Thanksgiving and the start of the holiday shopping season on Black Friday.”

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Here comes the Modern Bride line at JCPenney

BY CSA STAFF

Here comes the Modern Bride line at JCPenney

PLANO, Texas – JCPenney announced that it is partnering with Conde Nast to launch Modern Bride, a new line of bridal accessories, to expand its bridal offerings.

The fine jewelery line will launch in February 2011 in stores and online with merchandise targeted primarily to the 25 to 34 year-old customer. The line will include an expanded assortment of bridal jewelery including engagement rings and wedding bands.

"This collaboration with the experts at Conde Nast will allow us to take our bridal business to the next level, creating an even more comprehensive and distinct destination for brides," said Myron Ullman, III, chairman and chief executive officer of JCPenney. "Conde Nast’s deep understanding of the bridal market and valuable direct connection to potential customers make them the ideal partner, allowing JCPenney to cater to brides who will appreciate the Modern Bride name and continue to shop with JCPenney beyond their wedding day."

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NRF anticipates moderate growth for holiday sales

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NRF anticipates moderate growth for holiday sales

WASHINGTON – One of the world’s largest retail trade associations is projecting that holiday sales will increase by a moderate 2.3% to $447.1 billion.

The National Retail Federation said that while growth remains slightly lower than the 10-year average holiday sales increase of 2.5%, it would be a marked improvement from both last year’s 0.4% uptick and the dismal 3.9% holiday sales decline retailers experienced in 2008.

“While many consumers will be wishing for apparel and electronics this holiday season, retailers are hoping the holidays bring sustainable economic growth,” said NRF president and CEO Matthew Shay. “Though the retail industry is on stronger footing than last year, companies are closely watching key economic indicators like employment and consumer confidence before getting too optimistic that the recession is behind them.”

NRF’s holiday sales forecast is based on an economic model using several indicators, including employment, industrial production, disposable personal income and previous monthly retail sales reports. NRF defines holiday sales as those made in November and December.

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